Honeywell has agreed to buy warehouse automation business Transnorm for €425 million from IK Investment Partners.
Transnorm specialises in conveyor systems for parcel and e-commerce operations and has an installed base of 160,000units.
About 60 per cent of Transnorm’s sales are generated in Europe. The company’s annual sales are approximately €100 million and are expected to grow by more than 30 per cent in 2018.
The transaction is expected to close in November. “Faced with rising e-commerce demands, distribution centres and parcel delivery providers are looking to automation solutions to improve productivity, speed and accuracy,” said John Waldron, president and CEO of Honeywell Safety and Productivity Solutions.
In 2016 Honeywell acquired Intelligrated, the provider of automated material handling solutions and software. Honeywell’s warehouse and logistics business also includes voice-directed workflow solutions, mobile computing hardware and software, and FLUX warehouse management software that powers connected distribution centres.